3. Let's say that you are planning to purchase a house. You have $22,700 set aside as a down-payment towards the purchase price of the house, and you are looking at a 35-year loan at 5.16% interest compounded monthly. Your financial planner has advised you that your mortgage payments for the year should not exceed 20% of your take-home pay. If your yearly take-home pay is $31,800, then find the maximum price of a house that you could purchase (while following the advice of your financial planner). Notes: (1) Do NOT use the TVM Solver! Use the appropriate formula to help you solve this problem and show the important intermediate steps